Rewards and Recognition Programs
In a global research on rewards and recognition conducted by WorldatWork in 2013, 69% of the organizations surveyed confirmed that they used both formal and informal styles of recognition programs for their employees. 24% companies used one or more formal recognition programs to appreciate their employees’ work or milestones. The rest 7% companies followed an informal recognition program which included a spontaneous gesture of appreciation. There were no companies that didn’t have a recognition program in place.
Rewards and Recognition (RnR) make for a great catalyst to boost your employees' morale. Celebrate your employees' milestones and accomplishments with our SaaS-platform based Enterprise solution. Xoxoday offers you this Rewards and Recognition system that can be integrated with your existing systems and is flexible, easy to use, secure and scalable. Reward them according to their preferences and see their engagement levels reach new heights. Choose from a variety of experiential gifts including adventure, fine dining, tours, getaways, hobbies, activities, health and wellness.
In a global survey conducted on recognition for international employees in 2013, 46% of the firms said that their international employees participated in exactly the same recognition programs as the local employees. 21% companies said that their International employees participated in some of their own programs and some of the same programs as the local employees. Only 19% firms responded that their international employees had their own recognition programs. 8% firms said that their international employees participated in a few of the same recognition programs as their local counterparts. In the rest 6% of the companies surveyed, international employees did not participate at all in any recognition programs. There is, therefore, a pressing need for international organizations to customize and localize their rewards and recognition programs.
Xoxoday Enterprise Rewards and Recognition platform precisely helps organizations manage, integrate, scale, customize, localize and execute their Rewards and Recognition strategies and systems in a flexible and user-friendly manner. Our wide assortment of experiential gifts and activities allow you to reward your employees according to their preferences and let them choose an activity that they like the most.
Why Rewards & Recognition (RnR)
- A properly designed Rewards and Recognition includes appreciating your employees for their hard work and performance. Appreciation is an intrinsic element of employee motivation.
- Motivated employees are more likely to stay engaged with their organizations and work for a longer period of time. They are more likely to be productive at work and impact business top line and bottm line more positively.
- According to a 2014 global research, engaged employees perform 20 percent better and are 87 percent less likely to leave their organizations. And organizations with high engagement rates are 78 percent more productive and 40 percent more proﬁtable than organizations with low levels of engagement.
- Xoxoday’s Rewards and Recognition solutions are designed to cater to the end-to-end Rewards and Recognition requirement of organizations across their employee/client lifecycle.
Who is Rewards & Recognition(RnR) meant for
Employers organize and manage Rewards and Recognition programs in order to appreciate the efforts of their employees. Through a fair and timely Rewards and Recognition, they intend to motivate and engage their employees. Employers or organizations of all kinds need an Rewards and Recognition program.
Trade and Channel Partners
Like employees, channel partners also have an important role to play in the success of an organization. They too need to be rewarded and recognized upon meeting their targets, so they feel inspired to do even more.
Employees form the receiving side of Rewards and Recognition, whether it is through top-down rewards or peer-to-peer rewards. For example, sales teams get incentives and other rewards upon completing their sales targets. Likewise, employees from other departments and functions also get rewarded on an individual or team basis.
Businesses and clients share an intricate relationship of understanding and commitment which needs to be nurtured from time to time. Clients need to be told that their association is valued and Rewards and Recognition makes for a great way to communicate the same.
What is Rewards & Recognition(RnR)
Rewards and Recognition makes for a wonderful way to express appreciation and gratitude to someone for the work done or the contribution made towards a mutual endeavour. It is an expression that the giver values and solicits a continued relationship with the recipient on a long-term basis.
Rewards and Recognition comprises of end-to-end rewards and recognition program management across the employee/client lifecycle. For any organization, these Rewards and Recognition instances include but are not limited to Employee Referral Rewards, SPOT Awards, Team Awards, Joining Delights, Festival Rewards, Rewards for Personal Occasions, Peer-to-peer Rewards, Long Service Awards and Employee Farewell Rewards.
The salient features of Xoxoday’s Rewards and Recognition solutions include the following:
- End-to-end Rewards and Recognition program management across organizations
- Unprecedented Rewards and Recognition customization, flexibility and scalability
- International consulting approach with localized Rewards and Recognition strategy
- Multi-cultural Rewards and Recognition with unique rewards according to employee preferences
- Global Communication and Rewards and Recognition Logistics setup
- People Analytics and Data Systems
- Global Integration and Implementation
- Exhaustive Rewards Catalog comprising of Experiences, Activities & Vouchers
- Full compatibility with Mobile, PC and other devices
- Highly secure infrastructure and framework
- Cloud based hosting and SaaS platform capabilities
- Fast and easy implementation of platform
How Xoxoday facilitates Rewards and Recognition for your organization
Right from requirement gathering to reward redemption, Xoxoday stays by your side to ensure your Rewards and Recognition systems work seamlessly and effectively. We at Xoxoday are committed to ensure a smooth transition of your organization from another Rewards and Recognition endorsing entity to a highly effective Rewards and Recognition system-based organization.
We have customized modules for every bit of your Rewards and Recognition requirement including employee Rewards and Recognition, client Rewards and Recognition, Rewards and Recognition systems and programs and other requirements which may be ad hoc in nature and may arise from time to time. Our Rewards and Recognition solutions are truly global in nature and ensure your Rewards and Recognition programs have the same reach as your business.
Through our exhaustive rewards catalog comprising of unique experiences, activities and vouchers, we ensure your employees and clients gather life-long memories instead of perishable possessions. Our experiences are offered across categories such as Adventure, Gourmet, Tours, Getaways, Wellness, Hobbies and Social Impact. Owing to their personalized and human touch, these activities help establish a strong connect of emotions between you and your employees or clients.
Our Cloud based SaaS Rewards and Recognition platform, Enterprise, is designed to take care of all your Rewards and Recognition program management needs. Together with experiences, Enterprise ensures that your Rewards and Recognition programs stands effectively managed as well as executed, in turn engaging your employees on a long-term basis.
Scope of Xoxoday Rewards and Recognition services
Our Rewards and Recognition solutions span global organizations and cater to every industry and business function. We are an end-to-end Rewards and Recognition services provider, covering every imaginable bit of Rewards and Recognition requirements that may exist or be felt by organizations.
"Praise and recognition based upon performance are the oxygen of the human spirit."- Adair